Plan the Trade

Lol same here, sometimes i take 30 minutes just to write a simple paragraph.

not a good day -11 on nq i reduced stop to 11 and +12 on ym for a negative 210 dollars

Some disappointing bad mistakes this morning.
Challenging session.
At the end -11 +10 +1 -11

Not sure it could be of any interest/help to anyone, as I feel even the chart is very unclear and packed.

Anyway, here we go 4 trades (SIM):

T1: long on what I think was a 123s. As the point 3 was taken out, I moved the TP to +1. Unfortunately I cancelled my TP while doing that by touching the “X” on the side of the TP line. It cancelled my SL at the same time as my TP (I imagine both are linked on ninjatrader. I need to sort out what exactly happened). Anyway, long story short, it was a complete mess by my fault.

T2: long on what I think is a 2b at the bottom of the range. Price reacted nicely on the fill, and quickly went up, missing my TP by a couple of ticks. Price then went back down taking me out at +10T

T3: short on what I think is a 123s. I didn’t like it very much I have to say, as price was bouncing with inside bars everywhere while forming it. Even now, not sure at all it was valid. After the fill, when point 3 was taken out, I moved my TP to +1T (positive point: managed not to cancel everything that time!! Miracle!). Price went back a bit and took me out at TP +1T.

T4: icing on the cake, completely wrong entry. Same mistake as beginning of the week. There is no 123s here: LH LL then straight to HH!!! It cost me 12T (11T SL + 1T com) for that mistake.

That’s it, have a good day everyone.
Cheers,
J-F

no one trading today?

No trades here. Think i will call it a week

Yes I traded today.
Not sure if it is just me, but yesterday and today, I struggled to see clear 123s.
It seems (to me) that price doesn’t play balls and is really jumping sharply up and down.

Today was a +1 +1 +25

Three trades today (SIM):

T1: long on some very wide LL LH HL HH, with lots of movements in between. Very unclear to me. Price didn’t react on entry, but at the end went in positive territory to a maximum of 13T before taking me out at BE.

T2: long on another quite wide LL LH HL HH. My entry order was waiting mid candle of a long pin bar. Price reacted well on the fill, and went to +20T. The price movement was nice with break and retrace. When it broke the HH, I was pretty confident it would reach my TP. But nope, false break, and at the end price came back and took me out at BE.

T3: long on what I felt was a nice clean 2b near the bottom of the range. That one I liked it a lot when I put the entry order. On the fill, price reacted very well and after a nice break/retrace/break, this time it went to my TP.

I had another short order waiting on a nice 123s near the top of the range (see chart if interested), but for that one price missed my entry by 2 ticks.

Enjoy your week end everyone.
Cheers,
J-F

Hello.

1st post here.

I'm only beginning to learn this type of trading, so for now I will just post analysis. Any feedback you guys can offer is very much appreciated.

Chart is a tick chart emulating a 5 min period. Today it was 465 ticks.



I know chart is messy. It's the first one, I will try to post cleaner ones in the future.

Got a bunch of +1's on 30s. And a +25 on a 233 volume chart.

EURJPY M5.

Not sure if I'll stick with tick charts or time charts.



GBP JPY 5M

I thought this was futures only. I'm still trading fx. I can't get up in the morning like I used to. You guys did make me pull out ThinkOrSwim though! Wow!

Maybe a tighter range this week (and maybe more so in the first hour compared to the first hour other weeks) ?

I am really amazed you can find meaning and sense in those tiny twists and turns from the 123's.
Hats off to you guys who trade them successfully on a consistent basis.

Yeah, I see what you mean.
No idea to be honest, as I am not experienced enough, and it might just be me/an unfounded feeling as well.
We'll see next week how it goes
Cheers,
J-F

A bit of thinking from this week end.
Following some of the stuff from ddaytrader about SL/TP management, and the same type of work that Erasmus did (see quote link), but looking more at the R:R, and not touching anything after the entry (result can only be initial SL or TP).

For the experiment, I used the 32 trades that I entered so far (NQ; 1 contract), posted every day in this thread.
Thus if interested you can find them all on the charts.
First one was 28th of March, last one was 2 days ago, this past Friday.

At the end, all entries are the same in each scenario, and just trade management changes.

I took every single trade, proper 123s/2bs or messed up, in order not to be biased in a way.
I am sure there is better and worse scenarios possible, but I didn’t curve fit, as I don’t want to go deep into that known rabbit hole.

I just had a look at 4 different scenarios:

#1st one (“J-F messing up”) is the only complex one, but very easy to follow as it is what I have done and posted in the thread.
Thus it is simply the full SIM account trade report.
In that scenario, it is me moving the SL/TP as I saw fit at the time, with lots of BE.
All results are “real”, between -60 (-59.48 exactly, as commission is actually less than a tick at $4.48 per e-mini contract) and +120 (+120.52 exactly) are possible, as I manually move SL and TP.

#2nd one is fixed SL= 11T, and TP = 25T. Thus it is the same as “J-F messing up” scenario above, but a virtual one, done without touching anything as SL and TP are fixed.
Once you have entered the trade, the job is done, as price and the trade station do the rest.
As said above, as the commission on the account is actually less than a tick ($4.48), it gives just a tad more than 1:2 but let’s round it negatively to a perfect 1:2.
Thus Loss = (11T + 1Tcom = 12T or $60), and Gain = (25T -1Tcom = 24T or $120).
Only possible results are -60 (SL) or +120 (TP)

#3rd one is fixed SL = 7T, and TP = 25 T, which gives us a perfect 1:3
Only possible results are -40 (SL) or +120 (TP)

#4th one is fixed SL = 7T and TP = 33T, which gives us a perfect 1:4
Only possible results are -40 (SL) or +160 (TP)

Results are just for the sake of it, as it is only 32 trades, but I find them interestingly challenging nonetheless, as it is exactly the reverse of how I feel (I would feel scenario 1st is the best... and 4th is the worth... hummm!!)

Results:
1st Scenario “J-F messing up”: aka my “real” results so far, +$206.64; 3.4R; around 41 Ticks (as commission is $4.48 and not exactly 1 tick)
2nd Scenario 11T/25T: +$420; 19L / 13W; 7R; 84 Ticks
3rd Scenario 7T/25T: +$640; 20L / 12W; 16R; 128 Ticks
4th Scenario 7T/33T: +$1140; 20L/ 12W; 28R; 228 Ticks

Conclusion
After a very short but real sample of 32 trades, all scenarios are so far positive, but if we compare them to each others, then “J-F messing up” is a clear loser, and "7T/33T (1:4)" a clear winner.

Trading is a funny thing, as it often seems that what your brain feels “it’s OK”, might well be the worse :0)
I won’t go further, as it is only 32 trades anyway, and anything can happen.
It is for “illustration only”, nothing deeper than that really.

The results are attached, if anyone interested.
Don’t worry about the colours, they are not important (it is just for me, but anyway it is pretty easy to sort out what they mean).

Enjoy your Sunday.
Cheers,
J-F

heres the way i see it thursday and friday were both non directional lost 200 bucks on thursday made 240 on friday for a wash made good money on monday and tuesday made good money for the week. I treat this like a business like owning a retail store some days are better than others but as long as i make a decent check i am fine. My conclusion stay the course no deviation

Good to see some new folks posting charts. Last week was a very slow week for the method I have been blogging, especially as the rules have evolved a bit from what they were. The narrow ranges of the US sessions has impacted the profitability of a number of methods as there just has not been much spread for profit between entries and reversals.

Hoping that this is a more active week.

+1 5150 long

demamd 4925

+13

ym 123 to get back into to trend at 61 +12